Inter-bank rates rise as CBN mops up N1.1trn

Nigeria’s overnight inter-bank rates rose further to 17.42 percent on Friday from 14.25 percent the previous day after the Central Bank of Nigeria (CBN) mopped up a total of N1.075.85 trillion from the banking system on Thursday. Overnight rate is the rate at which Deposit Money Banks (DMBs) borrow and lend to each other. In…

Business Day, established in 2001, is a daily business newspaper based in Lagos. It is the only Nigerian newspaper with a bureau in Accra, Ghana. It has both daily and Sunday titles. It circulates in Nigeria and Ghana